Starting final year of IVA (yay) worried that despite having no property it will be increased

Get expert opinion. This is the place for new questions to be posted.
6 posts Page 1 of 1
Post Reply
 
 

Car.86

User avatar
Posts: 3
Joined: Mon Apr 11, 2016 7:26 pm
Post by Car.86 » Mon Apr 11, 2016 7:26 pm
Quote
Hi I am starting my final year of my IVA (yay). After reading other posts I am worried that DFD will increase my term from 5 to 6 years. I am renting so don't have a property/equity and I've heard that those w/o equity have their term increased. I have always rented throughout terms of IVA so DFD were aware of this at the start. Can anyone help?

Thanks
Top
 
 

kallis3

User avatar
Forum Expert
Posts: 77176
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom
Post by kallis3 » Mon Apr 11, 2016 7:28 pm
Quote
Hi and welcome,

If you have no property and have made all payments on time then you have nothing to worry about.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
Top
 
 

Foggy

User avatar
Posts: 33395
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Mon Apr 11, 2016 7:47 pm
Quote
There is no property, so no equity. Therefore no extension in lieu.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Top
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am
Post by Lisa Thomas » Tue Apr 12, 2016 9:46 am
Quote
Foggy is right. You have nothing to worry about as you have no equity in your home because you don't own it.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
Top
 
 

Laura.Harrop

User avatar
Industry Expert
Posts: 112
Joined: Thu Sep 03, 2015 8:10 am
Location: United Kingdom
Post by Laura.Harrop » Tue Apr 12, 2016 5:04 pm
Quote
Dear Car.86
The posts above are correct, however if you have any concerns please drop me an email (address is in my profile), with all your contact details and I will get in touch to discuss your issue further.
Look forward to speaking to you soon.
Kind Regards
DFD Forum Expert
Debt Free Direct
Top
 
 

Car.86

User avatar
Posts: 3
Joined: Mon Apr 11, 2016 7:26 pm
Post by Car.86 » Wed Apr 13, 2016 11:34 pm
Quote
Thanks all.
Top
Post Reply
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”